Client Stories
Client Stories
Notes from finance leads after fixed asset register reviews, existence testing, and capex classification work in Hong Kong.
Voices from recent engagements
“They found 47 fully depreciated assets still tagged to an Admiralty floor we vacated two years earlier. The write-off schedule arrived before our auditor kicked off.”
— Mei Ling C., Financial Controller, property services
“The physical verification took longer than we hoped because our warehouse layout was a mess — that delay was on us — but the cost reconciliation against PO files was exacting.”
— David K., Group Accountant, logistics
“We only commissioned the depreciation policy module. Useful lives for our cold-chain units were shortened with clear reasoning our board accepted in one sitting.”
— Anita W., Finance Director, food distribution
“Capex classification caught three fit-out projects that had been capitalised in full despite landlord reimbursement clauses. The reclass memo saved an awkward auditor query.”
— Raymond T., Assistant Controller, retail
Extended story: Kowloon warehouse register clean-up
A mid-sized logistics group approached us six weeks before their March year-end. Their fixed asset register held roughly 2,400 lines spanning two warehouses and a small office. Tags had not been refreshed after a racking redesign.
We scoped a full register review with existence testing concentrated on plant and racking. Fieldwork uncovered 112 assets with no physical match, mostly shelving written off in operations but never communicated to finance, plus 19 floor assets missing from the register after a rushed transfer from a closed site in Tsuen Wan.
The adjusted register and exception schedule were delivered eleven days before the audit kick-off meeting. The client’s mild reservation: evening access at one warehouse was limited, so a second visit was needed for the remaining sample — a scheduling constraint we now raise earlier in planning calls.